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EURAUD is in 'risk on' phase

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURAUD shows a good trend and we might align both technical and fundamental reasoning behind it. EUR is under a QE programme and is accepted as a safe heaven despite the European turmoil whilst AUD is currently in risk on phase, gaining some ground recently. That explains EURAUD shorts and we can try to capture the move. 1.5070-80 could reject the price (current price 1.5021) towards 1.4985 and the break of 1.4985 targets 1.4910 - L5 camarilla WPP. It is a shallow retracement but we can see a

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